The U.S. Securities and Exchange Commission has shot back at a bid by an attorney to toss accusations that he stole $9.6 million from foreigners participating in the EB-5 immigrant investor program, saying the court already denied his arguments when it issued an asset freeze.

The SEC in January accused Emilio Francisco and his company, PDC Capital Group LLC, of defrauding investors by diverting some of the $72 million he raised from them to several of his businesses and using it to buy a yacht. The agency on Monday urged U.S. District Judge Cormac J. Carney to deny Francisco’s bid to toss the case, saying the judge’s January decision to freeze the assets of Francisco and PDC already established the validity of the SEC's claim.

“Francisco’s motion simply ignores this relevant prior procedural history with no explanation as to why the court’s findings do not apply to this motion,” the SEC said.